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From The Collaborative International Dictionary of English v.0.48:
Wakf \Wakf\ (w[u^]kf), n. [Ar. waqf.] (Moham. Law) The granting or dedication of property in trust for a pious purpose, that is, to some object that tends to the good of mankind, as to support a mosque or caravansary, to provide for support of one's family, kin, or neighbors, to benefit some particular person or persons and afterward the poor, etc.; also, the trust so created, or the property in trust. [Webster 1913 Suppl.]